DotOracle became the first cross-chain bridge on Casper Network thanks to the partnership signed with Friendly Market on May 30. The Oracle solution will help bring secure price feeds and liquidity bridges to the network. It is also believed that the Dot support would be integral for the growth of Casper Network.
The growth of DeFi in recent times has also triggered the need for various security and performance solutions. Oracle networks are one of the solutions developed in DeFi to ensure the secure transference of data from third-party sources. The utility of these solutions is increasing exponentially in DeFi projects in recent times for receiving price feeds securely.
The Polkadot-based oracle solution DotOracle integrated Casper Network through a partnership with Friendly Market. DotOracle is a decentralized real-time cross-chain bridge that currently supports eight blockchains. The list comprises Ethereum, Polkadot, Binance Smart Chain, Fantom, Polygon, Avalanche, and Tomochain.
The Friendly Market partnership has different aspects to it. First of all, it will help the DeFi platform to bring tamper-proof price feeds from third-party sources. Secondly, DotOracle will be a cross-chain liquidity bridge for the DeFi gateway to help expand Casper Network. The cross-chain bridge will be secured through a dedicated validator node on DotOracle.
Casper Network was launched in March 2021 to accelerate the global adoption of blockchain technology, smart contracts, and dApps. It, moreover, implements a future-proof architecture that ensures the continual development of the ecosystem.
Being one of the largest DeFi platforms on Casper Network, Friendly Market’s partnership with DotOracle is likely to reflect in the entire Casper ecosystem. And what is more, the adoption of an oracle network also aligns with the vision of continual development of the ecosystem as per user needs.